This Market Analysis Perspective (MAP) looks at the current state of the worldwide wearables market, who the major players are, how technology buyers should consider wearables for business, and where the market is heading and finally provides advice for technology suppliers in the age of COVID-19.
"Like other technology markets, the COVID-19 pandemic sent ripples through the wearables market, affecting everyone from suppliers and manufacturers to distributors and end users," says Ramon T. Llamas, research director for IDC's Wearables team. "However, the wearables market proved more resilient than others with strong demand for smart earwear during the first half of the year and a steady stream of new device releases during the second half of the year."
"What will set up wearables for the next several years is a focus on providing solutions," adds Llamas. "Data collection will still have an important role to play, but connecting the dots between descriptive data, user behavior, and overall health will lead to a better understanding of what a user should do to live a healthier life. Similarly, wearables in the enterprise will take a similar tack, collecting information about the user and combining it with enterprise systems to deliver faster productivity."